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If a general partnership is owned equally by three partners and has $75,000 of taxable income in a tax year and there are no special

If a general partnership is owned equally by three partners and has $75,000 of taxable income in a tax year and there are no special allocations, which statement is correct?

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The partnership pays the taxes

There is no tax liability to the general partnership unless the money is distributed to the partners.

None of the above

Each partner pay taxes on $25,000

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